Stockholm, 2012-11-29 08:01 CET (GLOBE NEWSWIRE) --
• Revenue 7,685 KSEK (8,998)
• Operating income -4,524 KSEK (-5,108)
• Income after financial items -4,372 KSEK (-5,634)
• Net Income was -5,136 KSEK (-6,017) for the period and -3,868 KSEK (-1,384) for the third quarter
• Earnings per share -0.07 kr (-0.13 kr)
• New “Conan the Barbarian” movie with Universal Studios announced after period end
• Principal photography on co-production film “Reasonable Doubt” commenced November 18, 2012
• “Fire with Fire” film loan repaid improving solvency for the period
• New co-finance project negotiated, “The Optimist”
• Positive operating income expected for Q4, overall net loss for full year 2012
Financial Summary
Group revenue was 7,685 KSEK (8,998). Operating income was -4,524 KSEK (-5,108). Income after financial items was -4,372 KSEK (-5,634). Net income for the third quarter was -3,868 KSEK (-1,384) and -5,136 KSEK (-6,017) for the period to date. Shareholders’ equity at period end was 53,296 KSEK (50,004) and the change in shareholders’ equity was -5,948 KSEK for the period, of which -1,695 KSEK was related to translation differences. The solvency was 67.9 % (52.3 %). Investments in intangible assets were 363 KSEK (1,180) during the period.
The vast majority of the operation is based in the United States, thus the financials are affected by the Swedish crown/U.S. dollar exchange rate. The exchange rate on January 1, 2012, was 6.9234 SEK per USD (6.8030) and on September 30, 2012, 6.5284 SEK per USD (6.8580). The average exchange rate for the period was 6.8137 SEK per USD (6.8310).
See attached document for full financial statement.
About Paradox Entertainment
Paradox Entertainment manages and develops its rights library by generating revenue from all forms of entertainment, including motion picture, television, gaming, publishing and toy industries. The Company’s library consists of such well-known brands as Conan the Barbarian, Kull of Atlantis, Solomon Kane, Mutant Chronicles, and the works of Robert E. Howard. Paradox Entertainment also represents third-party property owners expanding their IP into a variety of licensing categories. In addition, the company produces, co-produces and co-finances motion pictures aimed at the global market. The business is mainly carried out by Paradox Entertainment Inc., based in Los Angeles, California, USA. The shares of parent company Paradox Entertainment AB (PDXE, SE0000598054) are quoted on NASDAQ OMX, in the First North Premier segment. Erik Penser Bankaktiebolag acts as Certified Adviser. Read more about Paradox Entertainment on http://www.paradoxent.com.
Fredrik Malmberg
President & CEO
Tel: +1 (323) 655-1700, Mob: +1 (310) 663-3214
E-mail: fmalmberg@paradoxent.com
Torsten Engevik
Deputy Chief Executive Officer
Tel: +46 8-555 177 94, Mob: +46 738-20 25 40
E-mail: torsten.engevik@paradox-entertainment.com
Joakim Zetterberg
Director of Licensing / Investor Relations
Tel: +1 (323) 655-1708, Mob: +1 (310) 623-2918
E-mail: jzetterberg@paradoxent.com
